Difference between revisions of "International Swaps and Derivatives Association Inc."

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</div>The International Swaps and Derivatives Association (ISDA) represents participants in the privately negotiated [[derivatives]] industry and is the largest global financial trade association by member firms, numbering more than 820 from 60 countries on six continents.<ref>{{cite web|url=http://www.isda.org/|name=About ISDA|org=ISDA|date=September 25, 2013}}</ref>
 
</div>The International Swaps and Derivatives Association (ISDA) represents participants in the privately negotiated [[derivatives]] industry and is the largest global financial trade association by member firms, numbering more than 820 from 60 countries on six continents.<ref>{{cite web|url=http://www.isda.org/|name=About ISDA|org=ISDA|date=September 25, 2013}}</ref>
  
Members include most of the world's major [[institution]]s that deal in privately negotiated [[derivatives]], as well as many of the businesses, governmental entijkharoufties and other end users that rely on [[over-the-counter]] derivatives for managing financial market risks inherent in their core economic activities. It's membership breakdown is 25 percent dealers, 35 percent service providers and 40 percent end-users. It's membership also includes 14 of the largest banks in the world, which account for about 82 percent of the global interest rate derivatives activity.  
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Members include most of the world's major [[institution]]s that deal in privately negotiated [[derivatives]], as well as many of the businesses, governmental entities and other end users that rely on [[over-the-counter]] derivatives for managing financial market risks inherent in their core economic activities. It's membership breakdown is 25 percent dealers, 35 percent service providers and 40 percent end-users. It's membership also includes 14 of the largest banks in the world, which account for about 82 percent of the global interest rate derivatives activity.  
 +
 
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On September 17, 2015, ISDA announced the launch of a new industry data project called the symbology project, aimed at developing an open-source standard derivatives product identification system to be applied across all derivatives facilities. The project involves a consortium of buy- and sell-side market participants, vendors, platforms and trade associations. The technology consultancy Etrading Software is acting as project manager and ISDA is overseeing the project, which comes in response to a number of regulatory changes, including [[MIFID]]/[[MIFIR]] and the SEC's reporting rules, which require a standardized means of identifying derivatives instruments.<ref>{{cite web|url=http://www2.isda.org/news/isda-launches-new-industry-initiative-for-a-derivatives-product-identification-standard|name=ISDA Launches New Industry Initiative for a Derivatives Product Identification Standard|org=ISDA|date=September 17, 2015}}</ref>
  
 
== Conferences ==
 
== Conferences ==
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In 2011, ISDA began co-branding [[S&P Dow Jones Indices|S&P’s]] existing [[credit default swaps]] indices as [[S&P/ISDA CDS Indices]]. As of 2013, 12 indices are listed, including the S&P/ISDA 100 CDS index, several sector-specific indices, and European and developed nation sovereign CDS.
 
In 2011, ISDA began co-branding [[S&P Dow Jones Indices|S&P’s]] existing [[credit default swaps]] indices as [[S&P/ISDA CDS Indices]]. As of 2013, 12 indices are listed, including the S&P/ISDA 100 CDS index, several sector-specific indices, and European and developed nation sovereign CDS.
  
== Robert Pickel MarketsReformWiki Interview ==
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== John Lothian News Interviews ==
 
{{Video | type=Vimeo | id=75431105 | mobileID=7H2O5VOuSBk | width=425}}
 
{{Video | type=Vimeo | id=75431105 | mobileID=7H2O5VOuSBk | width=425}}
 
<div class="fronttitle">[http://www.marketswiki.tv/2013/09/25/cross-border-regulation-of-swaps-isda-robert-pickel/ ISDA’s Robert Pickel Discusses the State of Cross-Border Regulation of Swaps (Part 1)]</div>
 
<div class="fronttitle">[http://www.marketswiki.tv/2013/09/25/cross-border-regulation-of-swaps-isda-robert-pickel/ ISDA’s Robert Pickel Discusses the State of Cross-Border Regulation of Swaps (Part 1)]</div>
  
Robert Pickel is the CEO of the [[International Swaps and Derivatives Association]] (ISDA). Since joining ISDA in 1997, Pickel has worked to promote and advocate for [[OTC]] market participants and work with international regulatory bodies to harmonize regulation across jurisdictions. Pickel spoke with John Lothian News editor-at-large [[Doug Ashburn]] about the cross-border issues that are still “works in progress,” an international standard for initial margin currently under development at ISDA, and the status of trade repositories around the world.  
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[[Robert Pickel]] is the CEO of the International Swaps and Derivatives Association (ISDA). Since joining ISDA in 1997, Pickel has worked to promote and advocate for [[OTC]] market participants and work with international regulatory bodies to harmonize regulation across jurisdictions. Pickel spoke with former John Lothian News editor-at-large [[Doug Ashburn]] about the cross-border issues that are still “works in progress,” an international standard for initial margin currently under development at ISDA, and the status of trade repositories around the world.  
  
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{{Video | type=Vimeo | id=75993117 | mobileID=jcMqUPHEBeM | width=425}}
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<div class="fronttitle">[http://www.marketswiki.tv/2013/10/02/financial-benchmarks-robert-pickel-isda/ ISDA’s Robert Pickel Discusses the Future of Financial Benchmarks (Part 2)]</div>
  
<div class="item">'''[http://www.marketswiki.tv/2013/09/25/cross-border-regulation-of-swaps-isda-robert-pickel/ Watch the entire video]'''</div>
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In part 2 of the interview, Pickel discusses the future of LIBOR and other financial benchmarks, possible alternatives to LIBOR, and how ISDA will work with regulators to smooth out and harmonize benchmarking standards.
  
 
== Membership ==
 
== Membership ==
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== Key People ==
 
== Key People ==
 
'''Executives'''
 
'''Executives'''
*[[Robert Pickel]], Chief Executive Officer
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*[[Scott O'Malia]], Chief Executive Officer
 
*[[Stephen P. O'Connor]], Chairman  
 
*[[Stephen P. O'Connor]], Chairman  
*[[George Handjinicolaou]], Deputy CEO<ref>{{cite web|url=http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201108301038dowjonesdjonline000205&title=isda-names-george-handjinicolaou-deputy-ceohead-of-europe|name=ISDA Names George Handjinicolaou Deputy CEO, Head Of Europe|org=NASDAQ|date=August 30, 2011}}</ref>
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*[[Steven Kennedy]], Global Head of Public Policy
*[[Mary Cunningham]], Chief Operating Officer
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*[[Mark Gheerbrant]], Global Head of Risk and Capital
*[[Katherine Tew Darras]], General Counsel, Americas, Head of Equity, FX and Interest Rate Legal
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*[[Tara Kruse]], Global Head of Infrastructure & Data
*[[Huzefa Deesawala]], Head of Finance
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*[[Katherine Tew Darras]], General Counsel
*[[Karel Engelen]], Director and Global Head Technology Solutions
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*[[Huzefa Deesawala]], Chief Financial Officer
*[[David Geen]], General Counsel
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*[[Karel Engelen]], Senior Director and Co-head of Data, Reporting and FpML
*[[Corrinne Greasley]], Head of Administration
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*[[Dillon Miller]], Chief Technology Officer
*[[Mary Johannes]], Senior Director and Head of U.S. Public Policy
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*[[Tomoko Morita]], Senior Director & Head of Tokyo Office
*[[Steven Kennedy]], Global Head of Communications
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*[[Richard Metcalfe]], Deputy Regional Director, EMEA, Senior Regulatory Adviser, Head of Global Policy
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*[[Dillon Miller]], Director of Information Technology
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*[[Tomoko Morita]], Policy Director & Head of Tokyo Office
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*[[Keith Noyes]], Regional Director, Asia Pacific
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*[[Kelly Sanderson]], Global Head of Conferences
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*[[Liz Zazzera]], Head of Membership
 
*[[Liz Zazzera]], Head of Membership
  

Latest revision as of 12:20, 27 March 2020

Fexglobal jl.gif

International Swaps and Derivatives Association, Inc.
ISDAlogo.gif
Founded 1985
Headquarters NEW YORK OFFICE: 360 Madison Avenue - 16th Floor, New York, NY 10017
Products Industry association
Web site www.isda.org
The International Swaps and Derivatives Association (ISDA) represents participants in the privately negotiated derivatives industry and is the largest global financial trade association by member firms, numbering more than 820 from 60 countries on six continents.[1]

Members include most of the world's major institutions that deal in privately negotiated derivatives, as well as many of the businesses, governmental entities and other end users that rely on over-the-counter derivatives for managing financial market risks inherent in their core economic activities. It's membership breakdown is 25 percent dealers, 35 percent service providers and 40 percent end-users. It's membership also includes 14 of the largest banks in the world, which account for about 82 percent of the global interest rate derivatives activity.

On September 17, 2015, ISDA announced the launch of a new industry data project called the symbology project, aimed at developing an open-source standard derivatives product identification system to be applied across all derivatives facilities. The project involves a consortium of buy- and sell-side market participants, vendors, platforms and trade associations. The technology consultancy Etrading Software is acting as project manager and ISDA is overseeing the project, which comes in response to a number of regulatory changes, including MIFID/MIFIR and the SEC's reporting rules, which require a standardized means of identifying derivatives instruments.[2]

Conferences

ISDA annually conducts a number of conferences, which include hands-on educational and training workshops (collateral, documentation, operations), seminars that examine and provide the up-to-date information on specific topics (risk management, new types and uses of derivatives), and more general sessions that review the latest developments across the industry. Some of these conferences, such as the annual general meeting and the member updates, are open only to ISDA members.

They also offer on-demand courses [3]:

  • Understanding the ISDA Master Agreements Conference
  • Documenting and Confirming Credit Derivative Transactions Conference
  • Documenting and Confirming Equity Derivative Transactions Conference
  • Fundamentals of Derivatives Seminar
  • Fundamentals of Credit Derivatives Seminar
  • Fundamentals of Equity Derivatives Seminar
  • Introduction to Operations Training Course
  • FpML Training Course (Financial products Markup Language)

ISDA Surveys

ISDA conducts annual surveys of its members on topics including margin and benchmarking, and publishes its findings on the state of collateral use and management among derivatives dealers and end-users.

Products and Services

Among ISDA's accomplishments are:

  • Development of the ISDA Master Agreement
  • Publication of documentation materials and instruments covering a variety of transaction types
  • Production of legal opinions on the enforceability of netting and collateral arrangements (these available only to ISDA members)
  • Securing recognition of the risk-reducing effects of netting in determining capital requirements
  • Promoting sound risk-management practices
  • Advancing the understanding and treatment of derivatives and risk management from public policy and regulatory capital perspectives.

In 2011, ISDA began co-branding S&P’s existing credit default swaps indices as S&P/ISDA CDS Indices. As of 2013, 12 indices are listed, including the S&P/ISDA 100 CDS index, several sector-specific indices, and European and developed nation sovereign CDS.

John Lothian News Interviews

Robert Pickel is the CEO of the International Swaps and Derivatives Association (ISDA). Since joining ISDA in 1997, Pickel has worked to promote and advocate for OTC market participants and work with international regulatory bodies to harmonize regulation across jurisdictions. Pickel spoke with former John Lothian News editor-at-large Doug Ashburn about the cross-border issues that are still “works in progress,” an international standard for initial margin currently under development at ISDA, and the status of trade repositories around the world.


In part 2 of the interview, Pickel discusses the future of LIBOR and other financial benchmarks, possible alternatives to LIBOR, and how ISDA will work with regulators to smooth out and harmonize benchmarking standards.

Membership

The association's member institutions are classified into three categories according to the guidelines contained in the association's by-laws. These categories are primary (dealer firms), associate (service providers) and subscriber (end-users).

Key People

Executives

References

  1. About ISDA. ISDA.
  2. ISDA Launches New Industry Initiative for a Derivatives Product Identification Standard. ISDA.
  3. "ISDA Conferences Playing Now on Your Schedule”. ISDA.